Question : How did the rise of new economic interests during the era of planned development impact India's fiscal policy?
Option 1: It led to a reduction in government spending.
Option 2: It prompted a shift towards indirect taxation.
Option 3: It resulted in increased borrowing from international institutions.
Option 4: It encouraged the implementation of progressive taxation.
Answer (1)
23rd Jan, 2024
Correct Answer: It prompted a shift towards indirect taxation.
Solution : The rise of new economic interests during the era of planned development prompted a shift towards indirect taxation, as the government sought to diversify its revenue sources and reduce reliance on direct taxes.
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